What Sequoia 401(k) Clients Need to Know: The Top 5 Takeaways from SECURE Act 2.0
SECURE Act 2.0 continues to dominate 401(k) plan conversations as employers wait on administrative guidance from both the Internal Revenue Service (...
Retirement & Financial
Student Loan Legislation: What Employers Need to Know
Student loan legislation continues to evolve, impacting both employers and employees with student loan debt. In this blog, we address ...
DOL Proposes Changes to its Voluntary Fiduciary Correction Program for 401(k) Plans
On November 21, 2022, the Department of Labor (“DOL”) released proposed changes to its Voluntary Fiduciary Correction Program (“VFCP”), which is a ...
SECURE Act 2.0 of 2022: A Round-Up of New Retirement Plan Provisions
On December 29, 2022, President Joe Biden signed the $1.65 trillion omnibus spending bill, officially called the Consolidated Appropriations Act of 2023,1 into law.
New IRS Requirements for 401(k) Plan Discretionary Matching Contributions
Every six years, the Internal Revenue Service (IRS) requires most retirement plans to update their plan documents to comply with ...
[UPDATED] Environmental, Social and Governance Investing: What 401(k) Plan Sponsors Need to Know
Over the last few years environmental, social, and governance (ESG) has been a topic of conversation in the 401(k) industry ...
The Inflation Reduction Act’s Impact on 401(k) Plans
On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of 20221 (the “Act”) into law. After passing the House of ...
IRS Clarification Issued for 401k Plan’s Required Minimum Distribution Rules
On October 7, 2022, the Internal Revenue Service (IRS) published Notice 2022-53, to clear up confusion on some of the required minimum ...
The IRS Announces New 401k Plan Limits for 2023
On October 21, 2022, the Internal Revenue Service (IRS) announced the new 401k plan limits for 2023 in Notice 2022-55,1 showing a significant ...
[Updated]: IRS Grants Three-Year Extension for 401k Plans’ Adoption of CARES and SECURE Act Amendments
On August 3, 2022, the Internal Revenue Service (IRS) released Notice 2022-33, providing 401k plan sponsors an extension until December 31, 2025 to adopt ...
Limited Plan Audits Are History: What 401k Plan Sponsors Should Know
The Employee Retirement Income Security Act of 1974 (ERISA) requires 401k plans with 100 or more eligible participants to file an audit ...
12 DOL Best Practices for 401k Plan Cybersecurity Measures
The U.S. Department of Labor (DOL) recently issued cybersecurity guidance for 401k plan sponsors, recordkeepers, other vendors, participants, and ...